Pfizer Q4 EPS Beats at $0.66, Reaffirms $59.5B-$62.5B Guidance and Reports 12.3% Obesity Drug Weight Loss
In Q4 2025, Pfizer reported adjusted EPS of $0.66 beating the $0.57 consensus and revenues of $17.56B topped $16.96B estimates despite a 3% operational decline driven by 35% Comirnaty and 70% Paxlovid revenue drops. The firm reaffirmed 2026 guidance ($59.5B-$62.5B, $2.80-$3.00 EPS) and highlighted obesity drug MET-097i’s 12.3% weight loss.
1. Breakthrough in Obesity Treatment with Monthly Injection
Pfizer reported that its investigational GLP-1 receptor agonist, Metsera (PF’3944), achieved up to 12.3% placebo-adjusted mean weight loss at week 28 in the mid-stage VESPER-3 trial. The ultra-long-acting injectable formulation demonstrated sustained efficacy without a weight-loss plateau, and gastrointestinal side effects were predominantly mild to moderate. Building on these results, Pfizer plans to initiate 10 pivotal Phase III trials of Metsera in 2026 and has more than 20 obesity-focused therapy studies in various stages of clinical development scheduled for advancement next year.
2. Solid Q4 2025 Earnings Underscore Business Resilience
In its fourth-quarter 2025 financial report, Pfizer delivered adjusted earnings per share of $0.66, surpassing consensus estimates by 16%. Total revenues of $17.56 billion represented a 1% year-over-year decline but exceeded analyst forecasts by $600 million, driven by strong performance in oncology biosimilars (up 76% year-over-year) and the Abrysvo RSV vaccine (sales up 136%). Excluding COVID-19 products, core revenues rose 9% operationally, reflecting growth in key franchises such as Eliquis and the Prevnar family.
3. Aggressive 2026 Clinical and Financial Guidance
Pfizer reaffirmed full-year 2026 revenue guidance in the range of $59.5 billion to $62.5 billion and adjusted diluted EPS of $2.80 to $3.00. The outlook factors in approximately $5 billion of COVID-19 product revenues and an estimated $1.5 billion headwind from upcoming patent expiries on key drugs. Management highlighted plans to launch over 20 pivotal Phase III trials next year across oncology, migraine, rare diseases and cardiometabolic indications, positioning the company for multiple potential catalysts throughout 2026.
4. Attractive Valuation for Long-Term Investors
Trading at roughly 9 times forward earnings compared to the S&P 500 average of 22 times, Pfizer offers a dividend yield north of 6.5%, making it one of the highest-yielding constituents in the healthcare sector. With a robust 102-candidate pipeline and major clinical readouts expected in obesity and oncology, the company presents a compelling risk-reward profile for patient investors seeking exposure to both stable cash flows and future growth drivers.